This isn’t near O block. This is in Englewood.
How much do properties sell for next to O Block Chicago?
- Thread starter UberEatsDriver
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This isn’t near O block. This is in Englewood.
Oh so you p*ssy
UberEatsDriver
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This property isn’t near o block. I just randomly put it in here cause I saw the rent price
UberEatsDriver
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We still have this mentality? When gentrification happens ain’t nothing stopping it.
Huh?Idk
All of this information is available online. Assuming this is a serious thread. Google the surrounding property addresses and do a search on the city/county records website. Most of that property is probably already owned by an LLC. The real value is in inheriting a place or buying out the elderly.
For what it’s worth, you’d have to have a pretty big bankroll to buy those properties and sit on them while paying property taxes and upkeep for 10-20 years in the hopes of gentrification happening. Bigger pockets than yours have been tapped trying to do the same. Downtown Baltimore is full of properties that should be worth $300-500K but aren’t because the renovation costs more than the cash flow they can generate through rents.
Where this really falls apart is that the cash multiple you could potentially get through a future sale wouldn’t be bigger than your ROI on a property that’s ready to go right now. Especially with interest rates at all time lows.
For what it’s worth, you’d have to have a pretty big bankroll to buy those properties and sit on them while paying property taxes and upkeep for 10-20 years in the hopes of gentrification happening. Bigger pockets than yours have been tapped trying to do the same. Downtown Baltimore is full of properties that should be worth $300-500K but aren’t because the renovation costs more than the cash flow they can generate through rents.
Where this really falls apart is that the cash multiple you could potentially get through a future sale wouldn’t be bigger than your ROI on a property that’s ready to go right now. Especially with interest rates at all time lows.
SleezyBigSlim
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Nah, but investing in o block is a smart move for brehs. Black owned housing in black neighborhoods is what's needed.Willingly move near O block
UberEatsDriver
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Nikka damn right it’s serious
Oh yea Illinois is a high property tax state. Forgot about that shyt.
Yeah that’s how they get you. How many years can you pay tax on a spot you can’t rent?
HTXBreh
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I dont think they would bother me.I wear designer nothing flashy but the shoes and dont wear jewelry. I dont drive either the only thing prob make me a target is renovating the spot mite make em want to break in.
Capital Steez
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The irony of this thread is that anyone from Chicago will tell you that all the surrounding areas around O-Block are actually gentrifying at a fast rate.
Bronzeville, Jackson Park, South Shore, etc. all are getting condo units that run $400k, new single family homes going for $600k+ easily.
Bronzeville, Jackson Park, South Shore, etc. all are getting condo units that run $400k, new single family homes going for $600k+ easily.
One does not simply invest in or around O-Block. You either in it for the long haul or you live there.
Ezekiel 25:17
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I keep confusing Chicago schools.
So there's University of Chicago and theres University of Illinois of Chicago.
I'm thinking of going to UIC Fall 2022.
Ezekiel 25:17
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@NewYorkIsBetterThanDallas
This a good idea, because the college campus is right there. O Block is for sale and high chances are they might demo that shyt because it's way cheaper than renovations.
What's crazy is you'd think a private school would be a safe area
This a good idea, because the college campus is right there. O Block is for sale and high chances are they might demo that shyt because it's way cheaper than renovations.
What's crazy is you'd think a private school would be a safe area